Chancellor of the Exchequer Sajid Javid has announced that the first budget after Brexit will be delivered on November 6.
Under current plans Brexit will happen on October 31 and the chancellor said in the event of a no-deal, the government would take swift action to support the economy, businesses and households.
Although the government maintains that it is committed to securing a deal before exit day.
Mr Javid said: “This will be the first budget after leaving the EU.
“I will be setting out our plan to shape the economy for the future and triggering the start of our infrastructure revolution.”
He added: “This is the right and responsible thing to do – we must get on with governing.”
Speaking at the Conservative Party Conference in late September, Mr Javid said Britain leaving the EU gave the country the opportunity to get rid of “inefficient EU programmes” and replace them with “genuinely better homegrown alternatives”.
He announced the launch of a Brexit ‘red tape challenge’ to identify EU regulation the government could “improve or remove”.
Mr Javid also said he ordered the Treasury to prepare a comprehensive economic response to support the economy in the event of no-deal and was ready to “draw on the full armor of economic policy” if it was needed.
Other announcements included a £13.4bn boost to public services — including schools, the NHS, police officers and social care — alongside a £29bn pot for infrastructure.
The government is due to set out its legislative agenda for the coming parliament in the Queen's Speech later today (October 14).
maria.espadinha@ft.com
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